Financial Education for Children and Youth - What To Do If Your Child not interested in finance?

Financial education is an issue that unfortunately is not in the most traditional education curricula. If parents want to prepare their children in the area of ​​finance, have to do it without the help of educational institutions.

Many parents are not even aware of this great gap in the education of their children and trust they will learn to manage money on their own as adults.

Unfortunately statistics show that this does not happen automatically, as we would like to assume. If anyone cares to teach, our children will be illiterate in the financial area.

Today the state of the alarming youth debt. According to a survey INJUV (National Institute of Youth), more than half of young Chileans between 15 and 29 years in debt and 57% of them are behind on payments.

Not a very encouraging figure when it comes to financial education. The need to prepare our young people to successfully manage money as adults, is in sight.

They must learn to live according to a budget, have the habit of saving and should have basic knowledge of investment to enable them to leverage its resources.

However, even parents who are aware of this great need in the education of their children, they face another obstacle: the lack of interest of their children for money issues.

What if your children are not interested in finance?

Many parents write to me and I ask this question. They are parents who have recognized the importance of developing money management skills in their children, but, in practice, do not know how.

Finances are an issue that seems to be unattractive for our children. Outside of spending money on his pleasures, there seems to deserve greater commitment of time.

Besides the money, for many young idealists, seems to be shrouded in a mysterious cloud of evil. They think that money is the root of all evil. They see a world run by corrupt and greedy adults attributed to the evil power of money.

It is at this point where I should start a solid financial education. Parents can place a good foundation in the financial education of their children if they help to relate well with him.

In the Bible clearly says that the LOVE of money is the root of all the evils.

(1. Timothy 6:10)

You must teach your children that money is a tool that can be used for good or ill. They should also understand that money is merely a necessary evil. It is a resource that can provide much happiness by allowing economic well-being that will give them the freedom to spend more time with his family, pursuing what they love and do good.

To arouse interest in the proper handling money and their children, they must distinguish two stages in the life of their children:

Before 12 years

After 12 years

Before 12 years

About twelve years, most children begin a transition to abstract thinking, identifying themselves and finding their own truths.

In other words, stop being children.

Childhood is a stage in which parents should use to create the necessary foundation for their children succeed in life. The child is 100% receptive to the teachings of their parents and adopts the principles of life you are taught without question.

At this stage parents can encourage their children's financial education in several ways:

1. Be a good role model

Children learn a lot by watching what we do. Not enough to teach the theory of good resource management. Parents can teach them about work ethic, thrift, discipline and rigor to share their lives with their children.

As shown life situations that require decision making in the financial sector, parents can share their experiences with them without making an effort to artificially produce an instance to teach. So they will be giving knowledge and skills needed to solve real-life situations.

2. Playing games together financial

Children learn by playing. It's the best way to teach about any subject, including finances. There are several high-quality educational games like "Monopoly" and "Cashflow for Kids". At about 8 years and can play "Cashflow 101" is an excellent accounting course disguised as play.

3. Encourage them to save

Children, like adults, have insatiable desires. If you do not learn how to save at an early age, will become adults who can not discipline when spending their money and are easy prey for financial institutions and their credit cards.

Teach your children to always save a portion of their money. Acquire a valuable habit that will benefit them throughout their lives.

4. Encourage them to have their own small business

Children are innate entrepreneurial. His creativity has no limits and I love to do something that is useful to others. Nothing better to install a small business, as the classic lemonade stand, selling chocolates, biscuits, jams, pets, etc..

Learn important skills for sales, marketing and accounting.

5. Teach them to be generous

One of the biggest benefits of the money is that we can help others. It is also the best way to have a healthy relationship with money and protect the hearts of our children of greed and avarice.

It is in vain that Jesus said: "It is more blessed to give than to receive." Teach your children to be aware of the needs of other people living around you. This will realize the tremendous power that money gives them to bring joy to other lives.

After 12 years

With older children to look for more creative methods to get their attention. In our case, when our teens do not want to hear us, apart from praying for them, we tried to adapt what they wanted to teach your reality.

For example, if your children want to buy something, recharge their phones, or rent a movie and ask for money, they can set limits (only paid a movie a month, or given "X" money by charging their mobile phones) . Then they can be encouraged to find other ways to earn the money they need.

Your older children need to realize that they can earn money to pay for their expenses. Once you have understood this, you can go to the next stage: to invest their earnings to create passive income sources. Parents can teach them to invest in mutual funds rather than simply opening a savings account with a very small interest rate.

Listen if they sweat bullets sweat earning their own bucks!

For example, our son started studying the stock market as well. He earned money by cutting grass and explained that if he knew how to invest your money, would be able to generate the same money of 10 cuts of grass in a day investing in stocks. That made sense, and today is diligently studying the stock market.

Another thing parents can do is get to a level of "one on one" with your children and share the financial mistakes they have committed. It is also important to know which are the good choices they have made and what it has meant to their family life.

In the adolescent stage of children, is often best to ignore the role of parents to control and adopt a more humble before them, showing that one is as human as anyone else.

It is the right time to talk about the mistakes he made in the past, apologize if necessary and tell them you love them and want does not suffer the consequences of not having a solid financial education.